CalSTRS said Thursday it's investing $42.8 million in a solar-power plant near Sacramento and three other California infrastructure projects.
The California State Teachers' Retirement System said the investments are part of its 2-year-old commitment to infrastructure. The pension fund has $750 million invested in the field.
Infrastructure – airports, bridges, etc. – has become a popular investment for pension funds. CalPERS has poured billions into the sector, and CalSTRS announced in February that it was committing $500 million to an infrastructure-investment firm based in Australia.
CalSTRS' latest investments include a solar-power plant near McClellan Park, operated by SunEdison of Belmont; the Crockett power plant near Oakland; construction of a portion of the Presidio Parkway in San Francisco; and reconstruction of the Long Beach courthouse.
"These investments reflect CalSTRS' commitment to the California economy and our willingness to contribute to it in a way that helps our state and offers the fund long-term, steady cash flows," said Harry Keiley, chairman of CalSTRS' investment committee, in a prepared statement.
Source: http://www.sacbee.com/2012/10/05/4883616/calstrs-will-invest-in-solar-power.html
The California State Teachers' Retirement System said the investments are part of its 2-year-old commitment to infrastructure. The pension fund has $750 million invested in the field.
Infrastructure – airports, bridges, etc. – has become a popular investment for pension funds. CalPERS has poured billions into the sector, and CalSTRS announced in February that it was committing $500 million to an infrastructure-investment firm based in Australia.
CalSTRS' latest investments include a solar-power plant near McClellan Park, operated by SunEdison of Belmont; the Crockett power plant near Oakland; construction of a portion of the Presidio Parkway in San Francisco; and reconstruction of the Long Beach courthouse.
"These investments reflect CalSTRS' commitment to the California economy and our willingness to contribute to it in a way that helps our state and offers the fund long-term, steady cash flows," said Harry Keiley, chairman of CalSTRS' investment committee, in a prepared statement.
Source: http://www.sacbee.com/2012/10/05/4883616/calstrs-will-invest-in-solar-power.html
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